FormFactor (NASDAQ:FORM) Releases Q3 2020 After-Hours Earnings Guidance

FormFactor (NASDAQ:FORM) updated its third quarter 2020
After-Hours earnings guidance on Thursday. The company provided earnings per share guidance of 0.30-0.38 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.29. The company issued revenue guidance of $170-182 million, compared to the consensus revenue estimate of $157.87 million.FormFactor also updated its Q3 guidance to $0.30 to $0.38 EPS.

A number of analysts have weighed in on the stock. Needham & Company LLC restated a hold rating on shares of FormFactor in a research report on Friday. DA Davidson raised shares of FormFactor from a neutral rating to a buy rating and boosted their target price for the stock from $25.00 to $30.00 in a research report on Monday, June 1st. Stifel Nicolaus upgraded shares of FormFactor to a positive rating in a report on Thursday, July 2nd. Cowen boosted their target price on shares of FormFactor from $24.00 to $30.00 and gave the company a market perform rating in a research note on Thursday, July 2nd. Finally, Craig Hallum cut shares of FormFactor from a buy rating to a hold rating and upped their price target for the company from $25.00 to $29.00 in a research note on Thursday, July 2nd. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. FormFactor currently has a consensus rating of Buy and an average target price of $30.30.

FORM stock opened at $28.84 on Friday. FormFactor has a one year low of $16.25 and a one year high of $33.07. The company’s fifty day moving average price is $29.82 and its 200-day moving average price is $25.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.63. The company has a market capitalization of $2.20 billion, a PE ratio of 35.60 and a beta of 1.40.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.05. FormFactor had a net margin of 9.92% and a return on equity of 13.09%. The business had revenue of $157.82 million for the quarter, compared to analysts’ expectations of $159.00 million. On average, research analysts predict that FormFactor will post 0.96 EPS for the current fiscal year.

In other news, CFO Shai Shahar sold 5,111 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $24.87, for a total transaction of $127,110.57. Following the transaction, the chief financial officer now owns 17,216 shares in the company, valued at approximately $428,161.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sheri Rhodes sold 2,010 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $31.90, for a total value of $64,119.00. Following the completion of the transaction, the director now owns 2,009 shares in the company, valued at approximately $64,087.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,121 shares of company stock valued at $1,061,110. Insiders own 1.22% of the company’s stock.

FormFactor Company Profile

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services. It operates in two segments, Probe Cards and Systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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Earnings History and Estimates for FormFactor (NASDAQ:FORM)

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